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(a) Purpose. There is hereby established a separate fund set aside for a special purpose entitled the Van Ness and Market Neighborhood Infrastructure Fund ("Fund"). That portion of Gross Floor Area subject to the $15.00 per gross square foot fee referenced in Section 424.3(b)(ii) above shall be deposited into the Fund, maintained by the Controller. The receipts of the Fund are hereby appropriated in accordance with law through the normal budgetary process to fund public infrastructure and other allowable improvements subject to the conditions of this Section.
Dollars Received From Residential Development
Dollars Received From Non-Residential Development
Complete Streets: Pedestrian and Streetscape Improvements, Bicycle Facilities
Recreation and Open Space
(1) Infrastructure. All monies deposited in the Fund, plus accrued interest, shall be used solely to design, engineer, acquire and develop neighborhood recreation and open space, pedestrian amenities and streetscape improvements, and bicycle infrastructure that result in new publicly-accessible facilities. First priority should be given to projects within the Van Ness & Market Residential Special Use District. Second Priority should be given to projects within the Market and Octavia Plan Area or within 1,250 feet of the Plan Area. These improvements shall be consistent with the Market and Octavia Area Plan of the General Plan and any Plan that is approved by the Board of Supervisors in the future for the area covered by the Van Ness & Market Residential Special Use District, except that monies from the Fund may be used by the Planning Commission to commission studies to revise the fee above, or to commission landscape, architectural or other planning, design and engineering services in support of the proposed public improvements.
(2) No portion of the Fund may be used, by way of loan or otherwise, to pay any administrative, general overhead, or similar expense of any public entity.
(3) At the close of a fiscal year in which the Market and Octavia Community Improvements Program has generated funding for no less than $211 million of expenditures in the plan area, including revenue generated through this Section 424.1et seq., Section 421 fee payments, in-kind improvements, public grants, San Francisco general funds, assessment districts, and other sources which contribute to the overall programming, all future funds generated through Section 424.1et seq. shall be redirected 100% to the Citywide Affordable Housing Fund.
(4) Expenditure of funds shall be coordinated with appropriate City agencies as detailed in Section 421.5.
(5) The Director shall have the authority to prescribe rules and regulations governing the Fund, which are consistent with Section 424.1et seq. The Director of Planning, as the head of the Interagency Plan Implementation Committee (IPIC), shall make recommendations to the Board regarding allocation of funds.
(Added by Ord. 108-10, File No. 091275, App. 5/25/2010; amended by Ord. 263-13, File No. 130549, App. 11/27/2013, Eff. 12/27/2013; Ord. 50-15 , File No. 150149, App. 4/24/2015, Eff. 5/24/2015; Ord. 188-15 , File No. 150871, App. 11/4/2015, Eff. 12/4/2015; Ord. 126-20, File No. 200559, App. 7/31/2020, Eff. 8/31/2020)
Former divisions (a)(i)-(vi) redesignated as (a)(1)-[former] (a)(6); [former] division (a)(3) amended; Ord. 263-13, Eff. 12/27/2013. Divisions (a) and (a)(1) amended; former division (a)(3) deleted; former divisions (a)(4)-(6) redesignated as (a)(3)-(5) and amended; Ord. 50-15 , Eff. 5/24/2015. Division (a) and Table 424.5A amended; Ord. 188-15 , Eff. 12/4/2015. Section header and division (a)(1) amended; Ord. 126-20, Eff. 8/31/2020.
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